Zhongji Innolight Grey Market Drops 0.82% to 972 Yuan, IPO Raises 53.41 Billion Yuan
Zhongji Innolight, a leading Chinese optical communication equipment maker, saw its grey market trading close at 972 yuan on the eve of its listing, down 0.82% from the IPO price of 980 yuan. The stock hit a low of 935 yuan during the session. One board lot of 50 shares resulted in a paper loss of 400 yuan. The IPO raised 53.41 billion yuan in basic proceeds, which could increase to 61.422 billion yuan if the over-allotment option is fully exercised.
Zhongji Innolight, a leading Chinese optical communication equipment manufacturer, will begin trading tomorrow. In grey market trading, the stock closed down nearly 1%. During the session, it hit a low of 935 yuan, down 4.59% from the IPO price of 980 yuan, before closing at 972 yuan, a decline of 0.82%. Based on one board lot of 50 shares, the paper loss was 400 yuan.
Based on the IPO price of 980 yuan per share, the basic proceeds from the offering were 53.41 billion yuan. If the over-allotment option is fully exercised, the total fundraising would increase to 61.422 billion yuan.